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Techno Tomorrow Date: 08/10/2018
After a harrowing last week, equity benchmarks have begun this week on a positive note. The Nifty has closed around 10,350-mark, while the Sensex ended nearly 100 points higher. The weekly price action formed the longest Dear our Researcaramete bearTraders,wing candle since Feb-16 signifying the extent of profit booking after decisive breach of 10800 contrary to our view. Going ahead we believe, Nifty has strong support in the range of 10100-10200 and we expect Nifty to hold it INDEX NIFTY OUTLOOK: as daily and weekly stochastic oscillators have approached extreme oversold territory around 10 owing to 13% decline seen during last five weeks. Therefore, any dip towards 10100 should be capitalised to accumulate quality stocks in a staggered manner. Going ahead, to witness a pause in ongoing downward momentum, Nifty need to close above Friday’s bearish gap area (10600) and also needs to form a higher high - low for more than two consecutive sessions.
SCRIPT
LEVEL
TARGET
STOPLOSS
1110
1140
1080
SCRIPT
LEVEL
TARGET
STOPLOSS
JSWSTEEL FUT BUY ABOVE
378
385
382
SCRIPT
LEVEL
TARGET
STOPLOSS
DHFL FUT SELL BELOW
220
205
235
SCRIPT
LEVEL
TARGET
STOPLOSS
TATAELXSI FUT SELL B\ BELOW
982
940
1024
RELIANCE FUT BUY ABOVE BELOW
BELOW
BELOW BELOW BELOW Best Regards ABOVE
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Technical Research Desk Capital ways investment adviser Indore (MP)